Glossary

Updated 17 October 2016

The Committee on Payments and Market Infrastructures (CPMI) provides this glossary of payments and market infrastructure terminology as a reference to the standard terms and definitions used in connection with payment, clearing, settlement and related arrangements. Current definitions are now shown alongside the previous ones. You can generate a PDF version of the glossary here.

The sending of assets such as funds, securities or of a right relating to assets, funds or securities from one party to another party by (i) conveyance of physical instruments/funds; (ii) accounting entries on the books of a financial intermediary; or (iii) accounting entries processed through a funds transfer system, securities settlement system and/or central securities depository securities transfer system. The act of transfer affects the legal rights of the transferor, transferee and possibly third parties in relation to the balance, security or other financial instrument being transferred.

The sending of assets such as funds, securities or of a right relating to assets, funds or securities from one party to another party by (i) conveyance of physical instruments/funds; (ii) accounting entries on the books of a financial intermediary; or (iii) accounting entries processed through a funds transfer system, securities settlement system and/or central securities depository securities transfer system. The act of transfer affects the legal rights of the transferor, transferee and possibly third parties in relation to the balance, security or other financial instrument being transferred.